What is meant by “Unlimited Liability of a Partner”? Post category:Accountancy Reading time:1 mins read SOLUTION The personal assets of the partner can be utilized for paying firm’s debts. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostSix friends started a partnership business by investing Rs. 2.00,000 each. They decided to share profit equally. Name the terms by which they will be called individually and collectively. Next PostThe business of a partnership firm may be carried on by all the partners or any one of them acting for all. One of the important implications of this statement is that every partner is entitled to participate in the conduct of the affairs of its business. State the second important implication of this statement. (C.B.S.E. 2020. Kerala) You Might Also Like Give any two circumstances in which sacrificing ratio may be applied. (C.B.S.E. 2019) October 7, 2022 What is Total Assets to Debt Ratio? October 1, 2022 What is the minimum number of partners a firm should have? October 7, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Give any two circumstances in which sacrificing ratio may be applied. (C.B.S.E. 2019) October 7, 2022